Question

find the compound interest on a sum of rs 12,000 at the rate of 8% per annum for 1 year compounded quartly .​

Answer 1

Answer:

Rs . 960

Step-by-step explanation:

Interest = Principal * Rate * Time /100

             = 12000 * 8 * 1 / 100

Interest = Rs.960

Answer 2

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Given:

• Principal,[P]= Rs.12000
• Rate,[R]= 8%
• Time;[n]= 1 years× 4 years (compound quarterly)
• Tme = 4 years

To find:

The compound interest.

Explanation:

We know that formula of the Compound Interest: Amount - Principal

Or

$A=\:P(1+\frac{R}{100} )^{n}$

→ A= $12000(1+\frac{8}{4*100} )^{4}$

→ A= $12000(1+\frac{\cancel{8}}{\cancel{400}} )^{4}$

→ A= $12000(1+\frac{1}{50} )^{4}$

→ A= $12000(\frac{50+1}{50} )^{4}$

→ A= $12000*(\frac{51}{50} )^{4}$

→ A= $\cancel{12000}*\frac{51}{\cancel{50}} *\frac{51}{50} *\frac{51}{50} *\frac{51}{50}$

→ A= $\frac{24\cancel{0}*51*51*51*51}{5\cancel{0}*50*50}$

→ A= $\frac{24*51*51*51*51}{5*50*50}$

→ A= $Rs.(\frac{\cancel{162364824}}{\cancel{12500}} )$

→ A= Rs.12989.18.

Now,

Compound Interest= Rs.(12989.18 - 12000)

Compound Interest= Rs.989.18.